The US dollar had a largely positive end to the week, thanks to a continued reaction to the mid-week Federal Reserve meeting. With no data forthcoming, it was speculation over the potential advent of interest rate rises that spurred on the currency. Whilst there is no definite timescale of when his will occur at present, hopes that the Federal Reserve could raise interest rates in the near future drove the currency higher.
It is a surprisingly busy week for data in the US, despite the Christmas day bank holiday. Today we will see existing home sales data released; but, tomorrow is likely to be the most significant day, with a multitude of figures due to potentially affect the currency. First of these will be the durable goods orders and the final growth figure which is expected to show the US economy grew by 4.3%. Later on in the day we will see consumer sentiment and new home sales data released. Wednesday then finishes the shortened week with unemployment claims figures, before two days of rest with no data over Christmas and Boxing Day.